# Pound's Best Monthly Gain in 2024 Ahead of US Inflation | Global Banking & Finance Review

> Sterling was headed for its best monthly gain against the dollar in 2024, rising about 1.7% in May. Traders expect the Bank of England to keep rates high for longer, and UK house prices rose in May after two months of declines.

- Date: 2024-05-31 · published 2024-05-31T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/30519-pound-s-best-monthly-gain-in-2024-ahead-of-us-inflation-global-banking-and
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Expectations of higher UK rates support sterling and reduce the chance of a near-term UK rate cut. Currency moves like this affect UK import costs but do not directly move feed commodity prices.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- globalbankingandfinance.com: https://www.globalbankingandfinance.com/pound-heads-for-best-monthly-gain-of-2024-ahead-of-us-inflation/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.